NOON SNAPSHOT – Europe Markets Summary

27 June 2012 12:00  [Source: ICIS news]

LONDON (ICIS)--Here is Wednesday’s midday European oil and chemical market summary from ICIS.

CRUDE: August WTI: $79.09/bbl, down 27 cents/bbl. August BRENT: $92.44/bbl, down 58 cents/bbl
Crude oil futures weakened on Wednesday pressured by growing divisions across the eurozone regarding methods to stabilize European financial markets and deeper fiscal union between members.

NAPHTHA: $713-720/tonne, up $3/tonne
The cargo range edged up from Tuesday afternoon as the effects of higher crude oil values overrode those of a weaker crack spread. July swaps were assessed at $718-720/tonne.

BENZENE: $1,185-1,200/tonne, up15-20/tonne
European benzene traded at $1,190/tonne CIF ARA for July. 1H July benzene continued to be quoted higher than any July delivery. The spot ranges were $1,220-1,260/tonne CIF ARA and $1,185-1,200/tonne respectively.

STYRENE: $1,305-1,320/tonne, range narrows
The styrene market was quiet, with little buying or selling interest seen in the market. The July range was notionally assessed and up $5/tonne on the bid. No August numbers were recorded.

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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